Supreme Court: Merck-Vioxx Lawsuits Can Proceed

The Supreme Court says investors who lost millions when Merck & Co. pulled its blockbuster drug Vioxx off the market can go ahead with a lawsuit against the pharmaceutical giant.

The high court on Tuesday agreed with a federal appeals court's decision to allow a class-action securities lawsuit. The lawsuit was related to the tens of billions of dollars in shareholder value lost overnight after Merck pulled Vioxx off the market.

The Supreme Court says investors who lost millions when Merck Co. pulled its blockbuster drug Vioxx off the market can go ahead with a lawsuit against the pharmaceutical giant.The high court on Tuesday agreed with a federal appeals court's decision to allow a class-action...